Surgical Kits Market to Reach an Opportunity of US$38.03 Billion by the End of 2025
Global Surgical Kits Market: Snapshot
The ever-increasing geriatric population has emerged as the main factor behind the growth of the market for surgical kits across the world. Since, elderly people are highly susceptible to infections and various types of diseases that require surgery for proper treatment, the rise in their population base serves as a catalyst to the demand for surgical kits, globally. In 2016, the global market for surgical kits stood at US$18.25 bn. proliferating at a CAGR of 8.50% between 2017 and 2025, the market is expected to attain a value of US$38.03 bn by the end of 2025.
Demand for Disposable Surgical Kits to Remain High
The global market for surgical kits is largely studied on the basis of the type of the kit, procedure, end user, and the geography. Based on the type of the product, the market is classified into disposable and reusable surgical kits. Among the two, the demand for disposable surgical kits is greater and the trend is projected to remain so over the next few years.
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Based on the procedure, the market is categorized into gynecology, urology, ophthalmology, orthopedic surgery, neurosurgery, cardiac surgery, general surgery, and ear, neck and head surgery. With the increasing number of general, cardiac, urological, and gynecological surgeries, the demand for surgical kits is also augmenting across the world.
Based on end users the market is bifurcated into hospitals, specialty clinics, and ambulatory surgical centers. Of these, hospitals have surfaced as the leading end user of surgical kits and the scenario is likely to remain same over the forthcoming years.
North America to Maintain Supremacy
In terms of the geography, the surgical kits market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Thanks to the rise in technological advancements and the availability of better reimbursement policies, North America has been leading the global market.
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The significant increase in the geriatric population and augmenting demand for surgical kits and supplies in hospitals and ambulatory surgical centers (ASCs) are also supporting the growth of the North America market for surgical kits substantially. The U.S. has emerged as the key domestic market for surgical kits in North America on account of the constant technological developments and the rising uptake of minimally invasive surgeries. The North America market for surgical kits is expected to remain dominant over the next few years, owing to the presence of advanced medical and healthcare infrastructure.
Among the other regional markets for surgical kits, Europe and Asia Pacific are likely to witness considerable rise in the near future due to augmenting demand for customized surgical packs and kits to avoid cross contamination in an infected area. The increasing number of government initiatives, rise in per capita income, and the ever-augmenting geriatric population are also projected to support these regional market over the forthcoming years.
Kimberly-Clark Corp., Medline Industries Inc., Cardinal Health, Paul Hartmann AG, Paul Hartmann AG, Hogy Medical, 3M Co., Medica Europe BV, OneMed, and Stradis Healthcare are some of the leading players operating in the global market for surgical kits.
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